Catella Germany sells office portfolio with short lease terms (FR/DE)

A Paris-based French company has sold an office portfolio with over 13,300 m² of total rental space in Berlin. Catella valued the portfolio, oversaw the leasing and split it up for sale.

Office Portfolio_ Taubenstrasse

The properties sold include two office buildings at Taubenstrasse 10.

The buyers are a German family office and a fund company with an international background. The purchase price totaled approximately €23 million. Catella Germany accompanied the transaction on the parts of both the buyer and the seller.

The properties sold include two office buildings at Taubenstrasse 10 and at Bernburger Strasse 30/31, with 6,321 m² of total rental space. The third building, an office building totaling around 7,000 m², is near Spittelmarkt.

The properties are almost fully leased, however, the average lease terms are relatively short. The quality of the properties and their rentability at any time, however, convinced the buyer. Catella was currently able to substantiate the positive leasing outlook by acquiring a new tenant.

"This transaction shows that long lease terms are not needed to realize a successful sale," said Christof Halwer, Managing Director of Catella Germany, summing up the deal.

"The interaction between letting and selling, as a substantial component of Catella's range of services, made this sale possible."

Source: Catella

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